Dear SOTGC community,
What are the elements that matter most when creating an organization that works together as a team and is profitable? As you know, there are many elements to building a great organization. But one that stands out and is often forgotten in the workplace is gratitude. When management is grateful for the work of their employees, the employees acknowledge the appreciation and a positive impact is made. When you truly understand the importance that gratitude plays in the workplace, your teams and all levels of the organization work with passion and improved performance.
Showing gratitude is about showing appreciation to someone for a job that person has done. It is honoring the individual for putting the time and effort into the task at hand. Ask yourself, how often do you hear the words, “Thank you” in the workplace? Does your management express it freely?
Appreciation goes further than recognition. Recognition is top down. It is for a job well done; often for a one-time accomplishment. But when appreciation is shown, it is about the work the employee does on a consistent basis. Not for a one-time job. Think about how many times you stayed late or arrived early to do a job. Being recognized for that is appreciation.
Along with appreciation is valuing the employee. Understand the values of each employee. Do they like to be appreciated by money, such as a gift certificate, perhaps by being given extra time to spend with their children, or by verbal recognition from leaders above? Perhaps it is a combination. But more importantly, you need to know what is important to your employees.
Research has shown that when you express gratitude, people listen and pay attention. The missing link in many organizations today is engagement. Only 30% of the US workforce is engaged; that means 70% is disengaged. Employees often don’t feel that their voices are heard and that they are valued for the work they do. When employees are disengaged, turnover increases. According to an article in Ere Media, it can cost up to 150% of a mid-level employee’s annual salary to replace them. As an example, to replace an employee who makes $80,000 can c0st the company on average $120,000. Take a higher level employee or specialized employee at an annual salary of $120,000, and replacement costs can jump up to 400%, the equivalent of $480,000. These figures prove the importance for organizations to value good employees.
Studies have shown the numerous benefits of showing gratitude—from social, psychological, and physical benefits. For one, it can improve and strengthen relationships, which is key in the workplace. When gratitude is present, low levels of resentment and envy exist. Consider how productive a team could be when envy and resentment are void from the work environment. Employees’ self-worth increases as they recognize the value they bring to others. When self-worth increases, confidence and the ability to perform increases.
The John Templeton Foundation showed that many Americans find work to be the last place where they either give or receive thanks. There is often the feeling that you don’t need to be thankful to people at work. But it has been proven that gratitude at work improves the productivity and happiness of the employees. The employees feel valued and they perceive their bosses as more successful.
When someone feels unappreciated for the job they are doing, the chances are greater that they will do the bare minimum—just enough to keep their job— than someone who feels appreciated. It is estimated that 41% of employees will leave their job due to not being recognized by the boss. Yet when they have a relationship with the boss, they are motivated to perform better.
The greatest thing about gratitude is that the benefits can be enormous, while the cost is minimal. It takes little time and effort to let people know that they are appreciated for the job they do. In fact, we all know how to do it, we just need to remember to do it. Like most culture change within organizations, gratitude needs to start at the top, which then trickles down the ranks.
Try it! It is simple enough to do and only requires you to remember to say Thank You!
Tell me how you show appreciation in your workplace. Please comment and share with your friends and followers.